Martin Thommen Opalesque Industry Update – The Swiss asset management and funds sector performed well
in 2010, and is looking optimistically to the future. The focus this year will be on seeking
to consistently identify and implement further improvements in the operating
environment.

As of the end of 2010, there were 7,191 collective investment schemes authorized for public
sale in Switzerland (2009: 6,502), of which 1,400 were products under Swiss law (2009: 1,343).

“The Swiss funds and asset management sector has recovered well from the financial crisis,
and is back on track. There is certainly further potential on the upside, given that investor
confidence has still not completely returned. However, Switzerland is well equipped for the
future, and ready to successfully master the challenges that lie ahead,” explained SFA
President Martin Thommen.

2010 also saw the launch of the SFA’s funds campaign and significant regulatory efforts at the
EU level. The owl ads, the information platform www.myfund.ch, the pilot funds event in
Küssnacht am Rigi and numerous appearances by SFA representatives contributed to
spreading fund-related knowledge.

The SFA’s dogged commitment to revisions in the Directive
on Alternative Investment Fund Managers (AIFM) also paid off, with the final version bringing
improvements for Switzerland and its asset managers compared with the original draft. The
Swiss authorities responsible should now look to implement the necessary measures as quickly
as possible in close cooperation with the industry associations.

Against the backdrop of UCITS
IV, the focus for Switzerland is on replacing the simplified prospectus with the new Key Investor
Information Document (KID). “We will endeavor to ensure that the introduction of the KID for
Undertakings for Collective Investment in Transferable Securities (UCITS) of Swiss market
participants takes place at the same time as the EU. This also has to be looked into for Swiss
retail funds, but they will need more time. For this, certain amendments will have to be made to
the Swiss Federal Act on Collective Investment Schemes (CISA). This will make it possible to
achieve the improvements in the operating environment for Swiss collective investment
schemes that legislators have been striving for,” said SFA CEO Dr. Matthäus Den Otter.

Changes and increase in membership
Dr. Raoul-Philip Bachmann left Credit Suisse in 2010 and thus stepped down from the SFA
Board of Directors. The SFA thanks him for his committed efforts. Petra Reinhard Keller was coopted
onto the Board as the representative of Credit Suisse. She is a Managing Director and
Head of Fund Solutions & Clients Services as well as Deputy CEO at Credit Suisse Asset
Management Funds AG. Andreas Ventouras left the SFA in September 2010 after nearly four
years working for the Executive Board. Markus Fuchs joined the SFA as Senior Counsel in
November. He was latterly a Managing Director and Head of Product Management at UBS, and
will support the Executive Board above all in the fields of asset management and alternative
investments.

SFA membership has enjoyed marked growth in recent years, and there was a further increase
of around 10% in 2010 to 171. The SFA’s member numbers have thus doubled since 2004, this
despite various companies merging or ceasing business operations. The following companies
were admitted as new members of the SFA: